SBI to Launch First Bank-Backed Digital Currency Exchange
A Japanese financial services group is set to launch the first bank-backed digital currency exchange. SBI announced today that it is establishing a new company, dubbed SBI Virtual Currencies Co., Ltd., that will provide exchange services for as-yet-undisclosed digital currencies. The venture is being funded with 300m yen (roughly $2.8m USD at press time) in new capital, according to the firm. While the launch date was not disclosed, SBI said it would officially form the company next month and will provide future updates as to the specific kinds of services the exchange will offer. The new....
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